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Nonprofiteer
← MIDWESTERN UNIVERSITY FOUNDATION

Form 990 for tax year 2022

Filed by MIDWESTERN UNIVERSITY FOUNDATION.

Totals

Total revenue
$3,845,183
Total expenses
$3,114,899
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,466,273
Investment income
$1,378,910
Other revenue
$0
Total assets, end of year
$88,680,176
Total liabilities, end of year
$80,360,212
Net assets or fund balances, end of year
$8,319,964
Program services expenses (Part IX)
$2,920,067
Management and general expenses
$194,832
Fundraising expenses
$0
Program service expenses (Part III)
$2,920,067

Program services were 93.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • JEAN L BAXTER JD

    VICE CHAIRPERSON/DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • KATHLEEN H GOEPPINGER PHD

    PRESIDENT/CEO/DIRECTOR

    Total calculated
    $3,043,984
    From this org
    $0
    From related orgs
    $2,994,092
    Other
    $49,892
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $897,118 related
    Bonus
    $0 + $650,905 related
    Other
    $0 + $1,446,069 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $19,392 related
    Filer's total
    $0 + $3,043,984 related

  • KENNETH R HERLIN CPA

    Secretary/Treasurer/DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • KEVIN D LEAHY

    CHAIRPERSON/DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Gregory J Gaus

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MADELINE R LEWIS DO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • THOMAS EGGLESTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WARREN B GRAYSON JD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • DEAN P MALONE

    VP, SPECIAL ASSISTANT FOR FINANCE, LAST DAY OF WORK 7/1/2022

    Total calculated
    $613,128
    From this org
    $0
    From related orgs
    $566,438
    Other
    $46,690
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $410,027 related
    Bonus
    $0 + $123,438 related
    Other
    $0 + $32,973 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $16,190 related
    Filer's total
    $0 + $613,128 related

  • GREGORY L O'COYNE

    VP FINANCE

    Total calculated
    $482,718
    From this org
    $0
    From related orgs
    $428,688
    Other
    $54,030
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $319,061 related
    Bonus
    $0 + $104,163 related
    Other
    $0 + $5,464 related
    Deferred
    $0 + $25,640 related
    Nontaxable benefits
    $0 + $28,390 related
    Filer's total
    $0 + $482,718 related

  • MATTHEW J SWEENEY

    ASSISTANT TREASURER/CFO/VP

    Total calculated
    $619,760
    From this org
    $0
    From related orgs
    $560,154
    Other
    $59,606
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $406,091 related
    Bonus
    $0 + $132,443 related
    Other
    $0 + $21,620 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $29,106 related
    Filer's total
    $0 + $619,760 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
THE FOUNDATION RELIES ON MIDWESTERN UNIVERSITY TO DETERMINE COMPENSATION OF THE ORGANIZATION'S CEO. MIDWESTERN UNIVERSITY USED THE FOLLOWING METHODS TO DETERMINE COMPENSATION OF THE CEO: COMPENSATION COMMITTEE INDEPENDENT COMPENSATION CONSULTANT COMPENSATION SURVEY OR STUDY APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
THE MIDWESTERN UNIVERSITY SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN II (THE "PLAN"), EFFECTIVE JUNE 30, 2017, WAS ESTABLISHED FOR THE BENEFIT OF DR. KATHLEEN GOEPPINGER, THE PRESIDENT AND CHIEF EXECUTIVE OFFICER ("CEO") OF THE UNIVERSITY. DURING CALENDAR YEAR ENDED DECEMBER 31, 2022, DR. GOEPPINGER VESTED AND WAS TAXED ON THE FINAL INSTALLMENT PAYABLE UNDER HER SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN IN THE AMOUNT OF $1,203,421 OF WHICH $668,000 IS ALSO REPORTED ON SCHEDULE J, PART II, COLUMN F, COMPENSATION REPORTED AS DEFERRED ON PRIOR FORM 990. THE CONSULTING FIRM OF KORN FERRY HAY GROUP WAS RETAINED TO CONSTRUCT A PROPOSAL TO ESTABLISH THE PLAN AND TO REVIEW THE PRESIDENT AND CEO'S TOTAL COMPENSATION, THE RESULTS OF WHICH WERE REVIEWED AND APPROVED BY BOTH THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES AND THE FULL BOARD OF TRUSTEES.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202411369349306426

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